Categories
Business

Jerry Hall asks judges to cancel divorce petition against Rupert Murdoch – reports | Jerry Hall

Jerry Hall has reportedly asked judges to cancel the divorce petition she filed five weeks ago against Rupert Murdoch.

The notice was filed at the Los Angeles superior court by the former model’s California lawyer, Ronald Brot.

The document states the divorce should be dismissed without prejudice, meaning that it can be revived, according to the Daily Mail.

It is unclear why Hall, 66, filed the dismissal or whether the couple had agreed to settle out of court.

Murdoch, 91, is understood to have had 30 days to respond to the petition, a date which had passed by the time Hall filed her request for dismissal.

In June, it emerged that the couple were to separate after six years of marriage.

Last month, it was reported that Murdoch was served the divorce papers at RAF Brize Norton after he attended his granddaughter’s wedding nearby.

The couple had a civil ceremony before a celebration at St Bride’s church on Fleet Street, the historical center of the British newspaper industry.

In 2019, they spent £11.25m on a house near Henley-on-Thames. Last year, they celebrated Murdoch’s 90th birthday together in New York, at the Tavern on the Green.

The Australian-born Murdoch was married three times previously. Hall married Mick Jagger in 1990 but the union was annulled nine years later.

Categories
Sports

MLB star Rodolfo Castro’s on-field phone flub a relatable moment

The moment was hilarious because it was so relatable.

Pittsburgh Pirates infielder Rodolfo Castro and third-base coach Mike Rabelo stood and stared, mortified, at a smartphone that had mistakenly made its way onto a Major League Baseball field.

Even third base umpire Adam Hamari had the perfect reaction, pointing at the phone that had come loose out of Castro’s back pocket during a slide, trying not to giggle at the absurdity of the situation.

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Those around the sport cringed along with them.

“That’s obviously not something that should happen,” Yankees manager Aaron Boone said.

Yet it did. Just like it does to pretty much all of us. Who hasn’t had their ringer go off at a wedding, a funeral, school or church? Or been at the apex of a cannonball into the pool, only to realize their phone was still in their back pocket?

C’mon, be honest.

This faux pas just happened to be at a televised big league game, creating a video clip seen by millions.

“I just remember getting dressed, putting my pants on, getting something to eat, using the restroom,” Castro said through a translator after the Pirates lost 6-4 to Arizona. “Never did it ever cross my mind that I still had my cellphone on me.”

It’s far from the first time a phone has made a cameo on a pro sports field. One of the most famous examples came nearly 20 years ago when New Orleans Saints receiver Joe Horn pulled out a flip phone — Remember those? — that he had hidden in the padding around the goalpost and then acted like he was taking a call after scoring a touchdown.

Of course, there are legitimate reasons MLB doesn’t want phones on the field.

MLB has cracked down on technology use by players since the Houston Astros used live TV feeds to steal opposing teams’ signs during their run to the 2017 World Series championship and part of the subsequent season.

Astros general manager Jeff Luhnow and then-manager AJ Hinch were suspended for the 2020 season. The Astros also were fined $7 million and forfeited their first- and second-round picks in 2020 and 2021.

That kind of discipline obviously isn’t warranted in this situation, but phones on the field are still a no-no. MLB hadn’t announced any sort of punishment for Castro as of Wednesday afternoon.

“I’m sure we’ll hear from the league, but I feel like everybody, including the umpires — which, again, they handled it great — it was a young kid who made a mistake and put his phone in his pocket,” Pirates manager Derek Shelton said. “There was no attempt to use it or do anything with it.”

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Categories
Australia

More women driving tractors and trains for the sugarcane harvest in far north Queensland

Maneuvering a 10-tonne tractor over rough terrain and tipping sugar cane into a train carriage may require skill and concentration, but Jasmine Cartwright and Elsa Tickler have taken it like ducks to water.

It therefore came as a bit of a surprise when the pair discovered they were the first women to apply for the job on Matt Watson’s Mossman farm in far north Queensland.

“Definitely, women can do the job just as well as men,” 28-year-old Ms Cartwright said.

“I’ve never driven heavy vehicles before starting this job and, prior to this year, never really imagined that I would go down this path for work, but I’m really happy I did.

“It takes a bit of time to practice and get used to the trucks because they’re just unique in the way that they run, but women should absolutely give it a go.”

Ms Tickler, 27, is from south-east Queensland and previously worked as a cook on a prawn trawler.

“I think learning to drive heavy machinery is a great skill set … and it’s something that will be so valuable in my life and future,” she said.

“I think I’ll be back for the next season.”

A young woman with short blond hair, a singlet and a black hat sits in the cab of a power-haul vehicle.
Elsa Tickler was surprised to learn she was one of the first female Powerhaul drivers in Mossman.(Rural ABC: Tanya Murphy)

With no regrets

Labor shortages have been a growing challenge for the agriculture industry, with young women among those most likely to leave rural areas.

Ms Cartwright, who is also from the state’s south-east, says she has no regrets about moving to Mossman this year to work.

“The environment we’re working in, the scenery, it’s so beautiful driving around different farms in Mossman and the Daintree,” she said.

“Sometimes it’s like a wildlife documentary happening in front of you: we see snakes and wild pigs and so many bandicoots and dingoes and kangaroos—crocodiles even.

“It’s really challenging because the roads are obviously a bit off-road and you’re driving a really heavy vehicle, so it’s just a new challenge, but it’s really fun.”

Driving the locomotive

After the cane is successfully tipped into train carriages, another young woman has the job of delivering it safely to the Mossman sugar mill.

Sophie Wright, 22, gave up her job as a makeup artist in Adelaide and moved to Mossman four years ago after falling in love with the region.

A young woman with a blonde ponytail, high-vis work top and boots, leans on a cane train engine.
Sophie Wright is completing her locomotive driver’s license.(Rural ABC: Tanya Murphy)

She has been working as a train driver’s assistant for Far Northern Milling and is currently training to be a locomotive driver.

Ms Wright said it had been a big career change but one she was glad she made.

“I think it’s something I love doing a whole lot more. You know, I feel like it’s meaningful,” she said.

“I honestly think the scenery is amazing. You see really nice parts of Mossman. We have to cross a few bridges on the way and there are stunning creeks.”

Ms Wright drives the cane train under supervision and helps with maintenance while logging the 200 hours required to get her ticket, which she hopes to achieve by next year.

“When we do have maintenance days, or when there’s days that the mill needs to stop for whatever reason, we help out John, who is our mechanic here, greasing the locos,” she said.

“We have to change the grease bombs. We have to make sure all the oils and the final drives and everything’s topped up and working well.

“We also have maintenance days where we have to adjust the brakes and put new ones in.”

A green and yellow loco pulling full bins of cut sugar cane.
A locomotive engine driver’s job is to collect filled carriages and take them to the mill.(Rural ABC: Melanie Groves)

On the right track

Ms Wright says another benefit to driving cane trains is that the job is seasonal, which means she has six or seven months off each year that allow her to travel.

Last year, she even worked on a snorkel tour boat on the Great Barrier Reef.

Ms Wright said it was no surprise that the job was attracting a growing number of women.

“When I started, I was one of the only females working on the trains,” she said.

“Now as the years have gone past, there are more and more women who are actually coming in and learning to drive, and learning to be driver assistants as well, which is really good to see.

“I’ve actually heard a few people say women are a little bit more careful with the trains. They pay attention and they’re very careful.”

A young woman with a blonde ponytail and high-vis workwear sits in the cab of a cane train.
Sophie Wright gave up her job as a makeup artist in Adelaide to work on cane trains in Mossman.(Rural ABC: Tanya Murphy)

Ms Wright said young women should not limit their imaginations when it came to career choices.

“You can train to be anything that you want to be, if you put your mind to it,” she said.

“[The cane industry] is a really open industry.

“I think if you want to do it, then just go for it. I’ve learned so much this year and anyone can do it really.”

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Categories
US

Biden says Austin Tice held by Syria, demands his release

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President Biden on Wednesday demanded that the Syrian government release freelance journalist and Washington Post contributor Austin Tice, saying that the United States knows that he is being held by their government 10 years after he was abducted.

“We know with certainty that he has been held by the Syrian regime,” Biden said in a statement. “We have repeatedly asked the government of Syria to work with us so that we can bring Austin home.”

This week marks a decade since Tice, who served in the US Marine Corps and was also a journalist who had been working and covering the conflict in Syria, was abducted in Damascus on Aug. 14, 2012, days after his 31st birthday. He is one of the longest-held American hostages.

Transcript: American Hostage with Debra & Marc Tice, Parents of Austin Tice

Syrian leader Bashar al-Assad has not acknowledged that his government detained Tice, and other top Syrian officials have denied having custody or any information about him. But Biden made clear in his statement that the United States believes the Syrian government has Tice, and the ability to release him.

“I am calling on Syria to end this and help us bring him home,” Biden said. “There is no higher priority in my Administration than the recovery and return of Americans held hostage or wrongfully detained abroad. We must name them, keep them in our hearts and minds, and make their recovery and return a priority.”

Biden’s strongly worded statement came a month after a controversial trip to Saudi Arabia in which he met with Crown Prince Mohammed bin Salman, who is accused of being behind the killing of Washington Post contributing columnist Jamal Khashoggi.

In his statement, Biden alluded to a meeting he held in early May with Tice’s parents, Marc and Debra, saying he pledged to them to try to secure their son’s release.

“The Tice family deserves answers, and more importantly, they deserve to be swiftly reunited with Austin,” Biden said. “We stand with Austin’s many loved ones, and we will not rest until we bring Austin home. Ten years is far, far too long. So is every additional day.”

Categories
Business

US inflation cools after 41-year high, Wall Street rallies, Australian dollar surges

US consumer inflation has eased thanks to a sharp fall in the cost of oil, sending US stocks higher.

The Consumer Price Index was flat in July after rising by 1.3 per cent in June, when prices reached an annual rate of 9.1 per cent — the highest in 41 years.

The US Labor Department said over the year to July, prices rose at the slower pace of 8.5 per cent, better than expected by economists.

The data is the first notable sign of relief for Americans who have watched inflation steadily climb over the past two years.

The US central bank, the Federal Reserve, is considering whether to make another large interest rate increase of 0.75 per cent in September, after a string of rate rises this year.

July’s slowdown in monthly inflation was the largest since 1973 and followed on the heels of petroleum prices falling by around one-fifth since mid-June.

Prices at the pump spiked in the first half of the year because of the war in Ukraine and reached a record high of more than $US5 a gallon in mid-June.

Gasoline prices fell 7.7 per cent in July, but food prices remained elevated, climbing by 1.1 per cent.

However, prices are still rising at levels not seen since the high-inflation era of the 1970s and early 1980s.

The core consumer price index, which strips out volatile energy and food prices, rose 0.3 per cent in July from June, and 5.9 per cent from a year earlier.

US consumer prices have surged for a variety of reasons including the global supply-chain squeeze, massive government stimulus from the COVID-19 pandemic, and Russia’s invasion of Ukraine.

Chicago Federal Reserve president Charles Evans said the inflation reading was the first “positive” one since the central bank began raising interest rates earlier this year.

But he said inflation was still “unacceptably” high and the Fed would continue to need to raise rates likely to between 3.25 per cent and 3.5 per cent this year, and to between 3.75 per cent and 4 per cent by the end of next year.

“This is not yet the meaningful decline in inflation the Fed is looking for,” Paul Ashworth of Capital Economics said.

“But it’s a start and we expect to see broader signs of easing price pressures over the next few months.”

US stocks surge

Equity markets rallied after the US inflation report came out, with investors betting the Federal Reserve might raise official interest rates by 0.5 percentage points instead of 0.75 percentage points next month.

The Nasdaq and S&P 500 surged more than 2 per cent.

By the close, the Dow Jones Industrial Average rose 1.6 per cent to 33,310, the S&P 500 rose 2.1 per cent to 4,210, and the Nasdaq Composite rose 2.9 per cent to 12,855.

All 11 sectors on the S&P 500 gained, led by miners, consumer staples and technology stocks.

The US inflation data calmed nerves in Europe.

The FTSE 100 index in London rose 0.25 per cent to 7,507, the DAX in Germany rose 1.2 per cent to 13,701, and the CAC 40 in France rose 0.6 per cent to 4,954.

The Australian share market is expected to open higher.

At 7:20am AEST, the ASX SPI 200 index was up 1 per cent to 6,950.

The Australian dollar jumped 1.6 per cent as the greenback fell. It reached an overnight high of 71.09 US cents.

At 7:20am AEST, the local currency was trading at 70.77 US cents.

Brent crude oil rose 0.8 per cent to $US97.11 a barrel, while spot gold fell 0.1 per cent to $US1791.39 an ounce.

ABC/Reuters

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Categories
Technology

Tower of Fantasy is perfect for recreating Genshin Impact characters

Didn’t get the character you wanted in Genshin Impact? Well no worries, because now you can recreate a version of that character in an entirely different game. (Amazing!) Now that it is launching worldwide, fans are starting to use the character creator in a similar game called Tower of Fantasy, to recreate popular characters from Genshin Impact.

Tower of Fantasy is a new free-to-play open world game that will launch globally August 11, with players in the United States able to play it on Wednesday evening. According to the developers, the game is an “anime-infused sci-fi adventure” set hundreds of the years in the future. The game allows you to customize your main character with various traits like clothes, hair color, and height, among other options. And fans are using this customization feature to make characters from Genshin Impact like Keqing, Bennett, Zhongli, and others. Here’s Kokomi, except with a futuristic outfit.

Someone made a tall version of Bennett and a character who looks like Zhongli. (As well as some Naruto characters like Sasuke and Nagato.)

A fan also recreated Keqing, so she can be busy and stressed in this life too.

A TikTok shows a character that looks like the pole-arm user, Hu Tao from Genshin.

Here is a character that looks like Shikanoin Heizou, who is a new addition to Genshin.

One person recreated one of the protagonists of Genshin ImpactLumine in the creator.

The trend is a tad ironic because Tower of Fantasy is a potential competitor to Genshin Impact. Like Genshin, Tower of Fantasy is a free-to-play open world RPG with gacha mechanics. It’s definitely aimed at a similar audience, and the Genshin Impact community’s embrace of it certainly supports that idea.

If the game sounds interesting to you, I have good news: Tower of Fantasy launches Wednesday evening in the US and globally on August 11, and it’s playable on Windows PC and mobile devices, so you can try it out.

Categories
Australia

Olivia Newton-John tributes continue; Sydney train industrial action continues; Matt Kean becomes NSW Deputy Leader; China asserts right to take Taiwan by force; Trump’s Mar-a-Lago home raided by FBI; ACTU economic plan revealed; COVID winter wave continues

Staying with Kevin Rudd’s Radio National interview for a moment, and the former Labor PM says the Albanese government is striking the right balance when it comes to handling China-Australia relations.

As mentioned yesterday, Opposition Leader Peter Dutton says it’s time to call out bullying behavior from Beijing.

Kevin Rudd has lashed Opposition Leader Peter Dutton.

Kevin Rudd has lashed Opposition Leader Peter Dutton. Credit:Bloomberg

“Mr Dutton is the architect of what I would describe as Australia’s megaphone diplomacy towards Beijing,” Rudd said.

“Has it solved any problems in terms of Australia’s long-term relationship with China? Not really. It was simply aimed, primarily, as a piece of domestic political posturing on the part of Mr Dutton and the Liberal Party.

“For God’s sake, this is the party which leased the Port of Darwin to China on a 99-year lease. This is the government which failed to put down a single rivet on a single boat on a submarine order which was agreed to under my government.

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“Mr Dutton has multiple cases to answer rather than just wallowing around in the continued rhetoric of hairy-chestedness. It doesn’t advance Australia’s core national security interests one bit.”

Here’s what Dutton told Sydney-based radio station 2GB: “If you don’t call out somebody like President Putin or President Xi, if we don’t shine a light on the bad behaviour, we will see in Taiwan what we’re seeing in Ukraine at the moment.”

Categories
US

Pilot shortage prompts proposals to raise retirement age, lower training hours. : NPR

A student pilot and flight instructor prepare to take off on a training flight outside of Phoenix.

David Schaper/NPR


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David Schaper/NPR


A student pilot and flight instructor prepare to take off on a training flight outside of Phoenix.

David Schaper/NPR

Air travelers just endured another weekend of widespread flight delays and cancellations. Airlines canceled more than 5,100 flights that had been scheduled from Thursday, Aug. 4 through Monday, Aug. 8, and close to 30% of the flights that did take off were delayed.

It’s something that’s become all too common this summer, as airports have been busier than at any time since the pandemic began, but airlines struggle to meet the surge in air travel demand.

The airlines blame the chronic delays and cancellations, in part, on a shortage of staff, and especially of pilots, which gets magnified in times of bad weather or other operational problems.

The pilot shortage is also forcing airlines, especially regional carriers, to reduce the number of flights they offer, particularly to smaller cities.

United Airlines has ended service to 25 destinations since the pandemic began. American and Delta have dropped dozens of cities from their flight schedules, too.

Places like Twin Falls, Idaho; Mason City, Iowa; and Elko, Nev., are down to one flight a day. United’s single daily flight to Mason City also stops in Fort Dodge, Iowa, and is that small city’s only flight each day, too.

Even Chicago’s O’Hare, one of the world’s busiest airports, has nearly 25% fewer departures each day than it did in 2019, because of the sharp drop in the number of regional airline flights to smaller cities, according to the aviation data analytics firm OAG.

The Regional Airline Association says its member airlines, including SkyWest, Republic, Envoy, Endeavor, and Mesa, which fly regional routes on behalf of the big legacy carriers such as American Eagle, Delta Shuttle and United Express, are not cutting service to these smaller airports because they want to, but because they don’t have enough pilots to staff the flights.

So to address the shortage, some in the industry and in Congress are calling for some big changes. Among them are raising the mandatory pilot retirement age from 65 to 67, and reducing the number of flight hours required before a pilot can be certified.

“We have a crisis when it comes to airline travel,” Sen. Lindsay Graham of South Carolina said recently at his home state’s Greenville-Spartanburg airport. “We have a pilot shortage and those who say we don’t, well, they’re just full of it.”

“We’re suffering because of this,” Graham added. “Airlines have to make decisions, so when you have fewer pilots, you gotta pick what routes to fly, and regional airports like Greenville and throughout other smaller communities suffer the most.”

With too few pilots to staff flights, airlines have had to park hundreds of airplanes.

“There are approximately 500 fewer regional aircraft operating today than at the end of 2019,” says Drew Lemos of the Regional Airlines Association. “This represents a loss of a quarter of the regional fleet. Five-hundred parked aircraft equates to a deficiency of approximately 5,000 pilots.”

Calls for raising the minimum retirement age

So to keep the industry from losing even more pilots, Graham is sponsoring legislation that would raise the mandatory airline pilot retirement age from 65 to 67, as long as they continue to meet the FAA’s stringent medical qualifications to fly commercial aircraft.

The federal Bureau of Labor Statistics projects that US airlines will need to hire about 14,500 pilots each year over the next decade, but new pilot training and licensing is not keeping up with that demand.

And Graham and the RAA say in the next two years, 5,000 pilots will be forced out of the industry as they reach that mandatory retirement age, and 14,000 pilots will age out of the cockpit by 2026.

“Pilots will be aged out, not because they’re unsafe, just simply because they reach 65,” Graham said. “My legislation would allow pilots to continue to fly if they meet the qualifications. We’re not dumbing down anything.”

“This legislation is critical to help address the pilot shortage and prevent air service loss in communities across the country,” Lemos added.

But the unions representing airline pilots disagree.

“It’s a bad idea and it doesn’t solve the problem,” says Capt. Dennis Tajer, a 737 pilot for American Airlines and spokesperson for the Allied Pilots Association.

He contends the air travel problems this summer are not simply because of a shortage of pilots.

“There’s a shortage of plans,” says Tajer, adding that airline “management did not plan for this recovery” in air travel.

Tajer suggests that to the extent there is a shortage of pilots, the airlines brought that upon themselves. He points out that even though the airlines received $50 billion in taxpayer funding to keep employees on the payroll during the pandemic, many of them gave pilots generous early retirement packages, including partial pay, benefits and other enticements.

“To save money, they incentivized pilots to retire early and they never started training the pilots that would fill those seats,” Tajer said.

The other major union representing airline pilots, the Air Lines Pilots Association, echoes those comments, while contending that there is no pilot shortage. The union says in a news release that the proposed legislation is a “misguided attempt to solve a problem that doesn’t exist.”

“This legislation is yet another attempt to distract the conversation from the real issue, which is that some US airlines have clearly failed to plan for the industry’s comeback that we are experiencing today,” Capt. Joe DePete, ALPA’s president, said in the news release. He added that raising the retirement age “would only increase costs for airlines as well as introduce unnecessary risks to passengers and crew alike.”

Because the international mandatory retirement age for pilots is also 65, if the age was raised in the United States, pilots 65 or older would no longer be allowed to fly overseas. Those routes are usually flown on widebody jets, such as Boeing’s 777 and 787, so those veteran pilots would have to be retrained on smaller narrow body planes to keep flying.

That is one of the reasons some of the bigger, legacy airlines oppose raising the retirement age. They and others also bring up safety concerns, citing research showing that cognitive abilities decline as people age.

When asked recently about increasing the mandatory retirement age, United Airlines CEO Scott Kirby said he doesn’t think it’s a solution, telling CNBC that “at United, of our age 64 pilots, 36% of them are unavailable to fly on a given day for sick, short-term or long-term medical reasons.

“We’re already at 36% at that age, so extending the age… I don’t think is going to be the answer,” Kirby added.

And Transportation Secretary Pete Buttigieg echoed such concerns recently on Fox News Sunday.

“Look, these retirement ages are there for a reason and the reason is safety. I’m not going to be on board with anything that could compromise safety,” Buttigieg said. “The answer is not to keep the baby boomer generation in the cockpit indefinitely. The answer is to make sure that we have as many and as good pilots ready to take their place; to have a stronger pipeline.”

Many aviation experts don’t doubt that some airline pilots would be able to continue flying safely after turning 65, but they say, at best, it’s only a short-term fix.

“This is not a solution to the pilot-supply issue,” says Elizabeth Bjerke, a pilot, aviation professor and associate dean at the University of North Dakota. “This would be maybe a short term, extra bubble of pilots, but it’s not going to fix the long-term issue of needing more pilots. We really need to focus on inspiring, exciting and supporting the next generation of aviation professionals.”

Also looking to lower mandatory training hours

Another proposal aimed at quickly increasing the number of airline pilots is to reduce the 1,500 hours of flight time required for airline pilot certification.

There are exceptions to the FAA’s 1,500-hour rule. Pilots with military training can be certified with 750 hours of flight time because that is considered optimal training; those earning a 4-year college aviation degree can earn an Air Transport Pilot certification with 1,000 hours; and those with 2-year degrees can be licensed with 1,250 hours.

Regional carrier Republic Airways has petitioned the FAA for an exemption to allow graduates of it’s flight school to obtain a first officer’s ATP certificate with 750 hours of flight time, the same level as pilots trained in the military.

Some experts argue that it’s not the amount of time in the air that matters, but the quality of the training, and training in a commercial jet simulator will actually be more valuable to an aspiring airline pilot than flying a few hours in a small airplane a couple times a week or on weekends.

But Bjerke and others point out that the United States has enjoyed an unprecedented period of commercial airline safety since the 1,500-hour rule and other safety regulations went into effect a decade ago.

And she notes that one of the best ways to gain flight hours and valuable experience is working as a flight instructor after completing a flight school program. Most aspiring commercial airline pilots earn their flight hours by getting certified to be and working as flight instructors, so luring them to the airlines prematurely could actually exacerbate the pilot shortage.

There’s already a shortage of flight instructors, Bjerke says, so losing the current pipeline of flight instructors to the airlines “would be detrimental to how many students we could bring into our aviation program. So, again, what looks like a short-term fix is going to have long lasting impacts on the pilot supply because we need qualified flight instructors to train that next generation.”

But despite such concerns, as passenger frustrations this summer grow over chronic flight delays and cancellations, Congress may feel compelled to take up the proposals to increase the pilot retirement age and cut the number of hours required for air transport pilot certification.

Categories
Business

I’m on a higher income bracket – is it super worth it if I pay more tax?

When it comes to what is described as a tax-concessional super contribution, there is a base rate of 15 per cent tax that applies to the annual cap of $27,500, says Fry.

Instead of paying this base tax of $4,125 on a one-year $27,500 super contribution entitlement, which will reduce the contribution to $23,375, a potential extra $4,125 in tax could reduce this further to $19,250.

That’s not to say this will automatically happen if your taxable income exceeds $250,000 and you contribute $27,500 to super.

To determine how much extra tax, you might be up for requires you to be aware of the rules that apply to Division 293 tax.

These rules require you to add your super contributions to your taxable income to create what is described as an adjusted taxable income, on which you then pay 15 per cent tax on the amount greater than $250,000.

For example, say your taxable income (including your capital gain) is $240,000 and you contribute $27,500 to super, your total adjusted taxable income will be $267,500 – $17,500 greater than $250,000.

This will make you liable for extra tax of 15 per cent on $17,500, or $2625.

To be up for the maximum Division 293 tax, you will need income that is well above $250,000. Say you earned $300,000 and contributed $27,500 to your super, your total adjusted income will be $327,500, which is well over $250,000. This will make you liable for an extra 15 per cent on your entire $27,500 concessional contribution – or another $4125 – reducing your super contribution to $19,250

Regarding your question whether this extra tax makes a super contribution worthwhile, says Fry, if you didn’t make a super contribution, the full tax payable on $27,500 at the highest personal tax rate would be $12,925.

So, making a tax-concessional contribution to super will result in an overall saving of $4,675 after the extra 15 per cent tax has been deducted. That is an important attraction offered by super.

Regarding your profit on the property investment, says Fry, it will need to be a substantial gain to push you into Division 293 tax given you will only be paying tax on half the capital gain after the cost base has been deducted.

So if your taxable capital gain pushes your income well above $250,000, you will still be nearly $5,000 better off making a super contribution, says Fry.

Regarding your wish to help your children, taking full advantage of your super opportunities might involve maximizing the super you transfer to the pension phase ($1.7 million) where investment earnings and withdrawals are tax-free.

Once you can access your super, this leads to the second part of your question regarding death benefits being paid to your adult children and the tax an adult child may be liable for.

Where super is paid as a death benefit to an adult child who is not a financial dependent of their parent with super, tax of 17 per cent (15 per cent plus 2 per cent Medicare) can apply to the taxable component – ​​the super sourced from investment earnings and tax-concessional contributions.

But if the payment is made through an estate, the Medicare levy will not apply, meaning only a 15 per cent tax rate.

That said, no tax will apply if the super is withdrawn in your lifetime as this will be tax-free and can form part of an estate, if not spent, and therefore also be tax-free to any beneficiaries.

Categories
Australia

Sydney news: Plan to pay ‘outstanding’ teachers up to $130,000 in NSW

Here’s what you need to know this morning.

Resignation letter to go public

a man wearing a hard hat looking
David Chandler was the first building commissioner for NSW.(ABCNews)

The NSW government today will release the former state building commissioner’s resignation letter after questions were raised about why he left the job.

David Chandler abruptly resigned last month saying it was time for a “reset.”

There have been reports he may have resigned due to a breakdown in his working relationship with former cabinet minister Eleni Petinos.

Ms Petinos was sacked from the NSW ministry last month over bullying allegations which she denies.

Yesterday, Labor successfully moved a motion in the upper house to compel the government to produce the letter within 24 hours.

The Premier also revealed the letter had been referred to the NSW Independent Commission Against Corruption (ICAC) out of an “abundance of caution”.

New teacher salary plan revealed

A woman wearing glasses and a white jacket
Education Minister Sarah Mitchell says good teachers often have to leave the classroom to receive pay.(ABC News: Rani Hayman)

The NSW government is considering a plan to increase wages for high-achieving teachers in a bid to promote excellence in the classroom.

John Hattie, a world-leading expert on education outcomes and student learning, is providing advice to the government as it seeks to reform the sector.

Under the plan, being finalized by the Department of Education, “outstanding” teachers could receive up to $130,000 per year.

Teachers in NSW start out with a salary of $73,737 and can earn just over $117,000 for lead teacher duties.

To earn more, they need to move into management roles.

Education Minister Sarah Mitchell said the reforms were designed to keep “more of our best teachers in the classroom.”

“This model is not ‘performance pay’, this is about expanding the career options for teachers and keeping our best in the classroom,” she said.

It is hoped a better system for rewarding and retaining top teachers could also help attract more people to the profession.

Meeting over rail union dispute

Rail union leaders are due to meet with the state government later today in a bid to resolve a long-running dispute over the safety of new trains.

The dispute centers around the new intercity fleet (NIF), which arrived in Sydney in 2020 but has been sitting in storage since.

Members of the Rail, Tram and Bus Union have refused to operate the trains, saying guards on them cannot adequately monitor platforms and check that gaps are clear to ensure passengers’ safety.

Earlier this year, the NSW government offered to spend more than $260 million on changes to the new trains.

But the union wants the government to sign an agreement guaranteeing the modifications before negotiations over a new pay deal are completed.

It comes amid a month of industrial action planned by the union, with the first of four planned strikes held yesterday.

New stadium threat to Penrith showgrounds

The NSW upper house has condemned plans to acquire the Penrith Showgrounds to make room for a new football stadium.

One Nation leader Mark Latham moved a successful motion last night denouncing the possible takeover of the 177-year-old showgrounds as “callous.”

He said it would leave many local organizations without a home.

The Penrith showgrounds currently host a harness-racing club, the RSL, the Penrith Agricultural Society and weekly markets.

Last month the showgrounds were served a notice of compulsory acquisition from Infrastructure NSW but the government is adamant no final decisions have been made.

Although other stadium upgrades were recently ditched by the state government, a new stadium to the tune of $300 million is still promised by Penrith.

Man stabbed, car stolen

A bloody rag left lying on the footpath
A man was rushed to hospital after the incident.(ABCNews)

NSW police are investigating a stabbing of a man at a sports field car park in Western Sydney last night.

Emergency services were called to The Kingsway at St Marys at about 11pm.

They found a 32-year-old man with stab wounds to his legs and arm.

He was treated at the scene by paramedics before being taken to Westmead Hospital in a stable condition.

Police were investigating the alleged incident as an assault and carjacking, as the victim’s car was also stolen.

Whale tails pop up around harbor

whale sculpture
Aunty Joanne Selfe with Uncle Graham Toomey and his artwork Whale Dreaming.(Supplied: Whale Tales)

An exhibition featuring 30 two-metre-high whale tail sculptures around Sydney’s western harbor will launch today.

Waterfront Whale Tales, which is expected to attract half a million visitors, is presented as a 6-kilometre harborside trail with sculptures individually created by a diverse collective of 30 artists, including Archibald prize winner Blak Douglas and street artist Scott Marsh.

All tails have a different story or message, with many focusing on the need for environmental protection and action on climate change.

After the exhibition concludes, all the sculptures will be auctioned in September, with the net proceeds going to The Kids’ Cancer Project.

Alex Lehours paints
Artist Alex Lehours paints Poseidon, one of the 30 life-size whale tails.(Supplied: Alex Lehours)

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